U.S. President Joe Biden speaks prior to signing of the Juneteenth National Independence Day Act into law in the East Room of the White House in Washington, U.S., June 17, 2021. REUTERS/Carlos Barria
WASHINGTON, June 22 (Reuters) – U.S. President Joe Biden believes steps are needed to safeguard privacy, bolster innovation and deal with other problems created by big technology platforms, the White House said on Tuesday, signaling his support for legislation concerning Big Tech.
Biden is encouraged by bipartisan work underway in Congress to tackle these issues, the official said, a day before the U.S. House Judiciary Committee votes on a package of antitrust bills, some of which target the market power of large tech firms. read more
“These platforms have transformed our daily lives, and showcase our country’s ingenuity and potential, but also create real problems for users, small businesses, and tech startups,” said the White House official.
“The president believes we need to address the problems these platforms create to protect privacy, generate more innovation, and make sure the great tech companies of the future can emerge and grow right here in the U.S.,” the official said.
The House Judiciary Committee will vote on Wednesday on a package of six antitrust bills, including two that address the issue of giant companies, such as Amazon.com Inc (AMZN.O) and Alphabet Inc’s (GOOGL.O) Google, creating a platform for other businesses and then competing against those same businesses.
The legislation drew fire on Tuesday from the U.S. Chamber of Commerce, the largest U.S. business group, which warned it would have “dangerous consequences for America.” read more
It said antitrust laws “should not be rigged against a small number of companies.”
The White House hoped the bipartisan proposals would move forward in the legislative process and looked forward to working with Congress on the issue, the official added.
In a separate development, the Federal Trade Commission, whose new chairwoman has been critical of Amazon, has decided to review the company’s planned purchase of U.S. movie studio MGM, a source familiar with the matter said. read more
Lina Khan was sworn in as FTC chair on June 15 in what was broadly seen as a victory for progressives seeking tougher antitrust enforcement.Reporting by Andrea Shalal; Editing by Lisa Shumaker
Our Standards: The Thomson Reuters Trust Principles.
Amazon secured a key early win as a federal judge blocked New York from enforcing…
The Enthuse Foundation has revealed the finalists for its 7th Annual Women Founders Pitch Competition,…
The Marcus Evans 2nd Edition Model Risk Management, Canada conference taking place in Toronto, Canada…
Economists say Shanghai is strengthening its role as China’s reform engine, accelerating innovation and global…
U.S. shoppers are set to spend nearly $80 billion this Black Friday and Cyber Monday,…
Waiken has unveiled a US$450 million investment plan through 2031 to strengthen its entertainment and…